Gurus On Marketing

• Consider the promotion budget.
• What resources you are willing to allocate.
Nowadays some writers emphasise on focusing on marketing mix from
the customers’ perspective. The four Ps – product, price, place and
promotion is from the perspective of what the supplier does. To
consider the marketing mix from the perspective of the customer
one needs to consider the customer value, cost to customer, convenience
and communication.
Selling v. Marketing
According to Theodore Levitt 5 , marketing guru:
‘Selling focuses on the needs of the seller, marketing on the needs
of the buyer. Selling is preoccupied with the seller’s need to convert
his product into cash, marketing with the idea of satisfying the needs
of the customer by means of the product and the whole cluster of
things associated with creating, delivering and finally consuming it.’
Selling benefits
Experts in marketing advocate selling benefits to customers rather
than praising the attributes of the product or service. What benefits
would customers gain by acquiring the product or service.
Market segmentation
A market is subdivided into sub-markets known as segments. The
heterogeneous market is divided into homogeneous divisions or groups.
Marketing segmentation can be done on the basis of geographic, demographic,
and socio-psychological factors.
ONE THE FUNDAMENTALS OF MARKETING 17